invited the press for a June 20 press conference and a lot of speculation has been around the purpose of this conference.

Analysts and insiders have released little details about what we can expect from the announcement but the invitation gives a small hint of what we can expect. The invitation reads, “A small team has been working on a new idea. Join us for coffee and learn about a new product.” Since it’s February launch, Twitter’s Vine social network has received major attention as users and celebratries flock to share their six seconds or less looping mobile videos. The rumor mill is expecting an upgrade to the Facebook owned Instagram adding mobile video to the social network.

Back in May, Reuters reported that Facebook was internally testing a Vine-like video application.

Besides a Vine knock off it has been rumored that Facebook was developing a Google Reader replacement. No comment has been received from Facebook at the present time about the event so we will have to wait until Thursday for full details on the press event.